The Federal Reserve will take the small easing step of pledging to keep rates low for longer at the end of its two-day meeting this week, analysts said on the eve of the event. At the moment, the Fed has said it expects to keep rates exceptionally low until late 2014. Economists say the Fed is likely to push this out until mid-2015. “Extending the forward guidance is the least-costly option, and if their goal is to keep long-term interest rates low, it will do the trick,” said Scott Brown, chief economist with Raymond James. Economists said the Fed must be disappointed that their past efforts have left the economy ... (full story)